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Federal

reserve bank

OF DALLAS

Dallas, Texas, July 9, 1942

INSURANCE

To the Member and Nonmember Banks of the
Eleventh Federal Reserve District:

The registered mail insurance policies, under which your shipments of
currency, coin, or securities to and from this bank may be insured, do not
cover war risks. Insurance of this character is not now available. Regard­
less of the terms or conditions of our current bulletins, we accept no
responsibility for losses resulting from war risks. The provision of the
policies making this exclusion reads as follows:
“ Notwithstanding anything herein contained to the contrary,
this insurance is warranted free from capture, seizure, arrest, re­
straint, detainment, confiscation, preemption, requisition or national­
ization, and the consequences thereof or any attempt thereat,
whether in time of peace or war and whether lawful or otherwise;
also warranted free from all consequences of hostilities or warlike
operations (whether there be a declaration of war or not), piracy,
civil war, revolution, rebellion or insurrection, or civil strife arising
therefrom.”
United States Government securities are shipped upon original issue
at the expense and risk of the United States under the Government Losses
in Shipment Act. The interest and responsibility of the United States in
such shipments ceases with the delivery by the post office; therefore the
addressee accepting delivery at the post office must transport such ship­
ments at its own risk from the post office to its place of business, and
provide for such insurance as it may desire.
The War Damage Corporation (a subsidiary of the Reconstruction
Finance Corporation) has been set up to provide certain protection against
war risks. Any additional information desired with respect to such insur­
ance may be obtained from that Corporation.

Yours very truly,
R. R. GILBERT
President

CTOKY
BUY
U N IT B D

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102